Lithium-ion batteries are everywhere — in phones, laptops, tablets, cameras and increasingly cars. Demand for lithium-ion batteries has risen sharply in the past five years and is expected to grow from a $44.2 billion market in 2020 to a $94.4 billion market by 2025, mostly due to the boom in electric cars, according to MarketsandMarkets.… Continue reading Inside Redwood Materials, former Tesla CTO’s effort to recycle batteries for rare components
Author: CNBC Online news
GM unveils electric Hummer SUV topping $110,000
The 2024 GMC Hummer EV SUV and 2022 GMC Hummer EV sport utility truck, or SUT. GM DETROIT – General Motors unveiled an all-electric Hummer SUV Saturday that will top $110,000 when it goes on sale in 2023. The vehicle will be the stablemate to an upcoming Hummer pickup that’s scheduled to go on sale… Continue reading GM unveils electric Hummer SUV topping $110,000
Auto supplier BorgWarner expects EVs to account for almost 50% of revenue by 2030
The CEO of auto supplier BorgWarner told CNBC on Friday the company hopes to have nearly 50% of its revenues be tied to electric vehicles within the next decade. Currently, less than 3% of the Michigan-based firm’s sales are related to EVs. “Our assumption is that 30% of the vehicle will be battery electric in… Continue reading Auto supplier BorgWarner expects EVs to account for almost 50% of revenue by 2030
Jeep, Dodge maker Stellantis temporarily closing five North American plants due to chip shortage
A United Auto Worker member leaves the Fiat Chrysler Automobiles Warren Truck Plant after the first work shift on May 18, 2020 in Warren, Michigan. Gregory Shamus | Getty Images A global shortage of semiconductor chips is forcing Stellantis to temporally close five North American plants starting next week, the company confirmed Friday afternoon. The… Continue reading Jeep, Dodge maker Stellantis temporarily closing five North American plants due to chip shortage
Chinese electric car start-up Nio shuts factory for 5 days due to global chip shortage
Employees make checks at an inspection line during a media tour of the Nio Inc. production facility in Hefei, Anhui province, China, on Friday, Dec. 4, 2020. Qilai Shen | Bloomberg | Getty Images BEIJING — Chinese electric car start-up Nio said Friday it is shutting a factory for five days due to the global… Continue reading Chinese electric car start-up Nio shuts factory for 5 days due to global chip shortage
VW expects half of U.S. sales to be electric vehicles by 2030
Volkswagen’s ID Buzz vehicle. Aeva Volkswagen is accelerating its plans for all-electric vehicles in a bid to become “the world’s most desirable brand for sustainable mobility,” a title arguably already owned by Tesla. The German automaker Friday morning said more than 70% of its Volkswagen brand’s European sales will be EVs by 2030, up from… Continue reading VW expects half of U.S. sales to be electric vehicles by 2030
Online car seller Vroom promises torture-free car buying in first Super Bowl ad
Used car retailer Vroom purchases and sells vehicles online without requiring consumers to go into a physical dealership. Screenshot Online used car retailer Vroom is buying its first Super Bowl airtime Sunday to introduce the company to the roughly 100 million fans that watch the game every year — and to make fun of its… Continue reading Online car seller Vroom promises torture-free car buying in first Super Bowl ad
Tesla engineering director Joseph Mardall leaves for drone start-up Zipline
Low-angle view of the facade of Tesla Motors dealership with logo and sign in Pleasanton, California, July 23, 2018. (Photo by Smith Collection/Gado/Getty Images) Smith Collection/Gado An influential engineering director at Tesla, Joe Mardall, has resigned his position at the automaker to become head of engineering at Zipline, according to his own LinkedIn profile. Zipline… Continue reading Tesla engineering director Joseph Mardall leaves for drone start-up Zipline
Chinese driverless car start-up WeRide raises $310 million in funding as competition heats up
A car equipped with WeRide autonomous driving technology in Guangzhou, China. WeRide GUANGZHOU, China — Chinese driverless car start-up WeRide has raised $310 million in a new round of funding as it pushes to commercialize its technology. Yutong Group, a Chinese company that manufactures commercial vehicles including electric buses, lead the funding round. A number… Continue reading Chinese driverless car start-up WeRide raises $310 million in funding as competition heats up
Canadian EV maker eyes American school bus market as Biden term nears
A Canadian electric vehicle maker is eyeing factory space in the United States as the company looks to capitalize on the electrified future that President-elect Joe Biden has laid out in his agenda. Lion Electric, the electric school bus manufacturer set to go public in months through a blank-check merger, plans to open an American… Continue reading Canadian EV maker eyes American school bus market as Biden term nears